Solution-How do calculate the closing price of the day

How do calculate the closing price of the day benchmark

Assignment Help Cost Accounting

Reference no: EM132618799

The market opens at 9:30 AM, at which point 15,000 shares of ABC stock trade at $35.66 a share.

You decide to trade to buy 1,800 shares of ABC at 10:50 AM. The best bid and ask prices at this time are $36.05 and $36.08, respectively.
Another trader's order executes at 11:25 AM at a price of $36.20 for 850 shares. The best bid and ask prices at this time are $36.20 and $36.22, respectively.
At 11:59 AM, 690 shares of your order gets executed at a price of $36.05. The best bid and ask prices at this time are $36.20 and $36.05, respectively.
Another trader's order for 3,000 shares is executed at 2:16 PM at a price of $36.15.
At 3:50 PM, another 795 shares of yours are executed at $36.03. The best bid and ask prices at this time are $35.99 and $36.03, respectively.
Finally the market closes at 4 PM, when the best bid and ask prices are $35.91 and $35.94, respectively.
Assume that there are no other transactions in ABC stock during the day.

Problem 1: Calculate the 'closing price of the day' benchmark?

Option A 35.83

Option B 35.03

Option C 36.83

Option D 36.03

Reference no: EM132618799

Questions Cloud

Define how to understand and deal with the data : Email campaigns, are still vibrant and active parts of company marketing and you as the web analyst may be asked to make sense of this data.

List two cost accounting concepts have learned : List two cost accounting concepts you have learned in Applying Cost Accounting Concepts and explain how you might use them in your present

Consumer behavior-sell consumer information : Some companies sell consumer information to other companies.

Discuss about the company products in brief : You are an information technology (IT) intern working for Health Network, Inc. (Health Network), a fictitious health services organization headquartered.

How do calculate the closing price of the day benchmark : Another trader's order executes at 11:25 AM at a price of $36.20 for 850 shares. The best bid and ask prices,Calculate the 'closing price of the day' benchmark?

Calculate gross profit for the year ending December : Assuming the company uses a periodic inventory system, calculate gross profit for the year ending December 31, 20x8, under each of the following assumptions

What is the intrinsic value of options : Price the 230 day put and call options with a strike price of $115 over a stock currently trading at $113.47, which is expected

Corporate bond yields and liquidity risk : Topic: Corporate Bond Yields and Liquidity Risk: An Analysis of U.S market and Bangladesh market

Developing winning website : "Developing a Winning Website" in Chapter 8 discusses a number of strategic questions to answer while developing successful Websites.

User Account

All Pages

How do calculate the closing price of the day benchmark

Reference no: EM132618799

Reference no: EM132618799

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT